April 14, 2024 4:54 pm





Breaking: FG Approves Six Companies to Import Petroleum Products – Is Your Favorite Brand On The List?

President Bola Ahmed Tinubu-led Federal Government has granted licenses to six new companies to import petroleum products into Nigeria. Managing Director (MD) of Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDRA), Farouk Ahmed, made this announcement to State House correspondents at the Presidential Villa.

No Approval for Dangote
Additionally, Ahmed cleared the air concerning reports that the Nigerian National Petroleum Company Limited (NNPCL) had authorized Dangote Group to import petroleum. He explained that the company has no powers to give such approval. The NMDRA MD revealed that there are several companies that applied for permits to import petroleum.

Open To All
According to Ahmed, anyone can apply for importation to access the port since the authority is open to everyone interested in importing. He also said, “There are six companies who want to import fuel in July. Of course, all the others may import in December, November, or anytime, but for those who want to bring in fuel in July, there were six of them as of the morning we made this statement.”

30 Days Fuel Sufficiency
Ahmed also said that there are interests stating that they have access to foreign exchange to enable them to import. He noted that as they continue, progress and achievements will be updated, but the important thing is that NNPC has 30 days fuel sufficiency so there will be no gap in supply or distribution.

Tinubu Fighting Excessive Charges
Meanwhile, Tinubu has started taking action to stop ship owners from withdrawing their vessels over excessive charges. Speaking during an interactive session with shipping stakeholders, the Special Adviser to the President on Revenue, Zacchaeus Adedeji, warned that Nigeria cannot afford not having vessels move in and out of the country.

Technical Committee to Resolve Issues
Reports had circulated that at least two ship owners refused to bring their vessels to Nigeria after the government sent out multimillion dollar tax bills to recover unpaid duties from 2010 to 2019. Adedeji assured stakeholders within the oil and gas sector that a technical committee has been set up to resolve the contentious issues.

In conclusion, the Nigerian government is making moves in the oil and gas sector to ensure the steady supply of petroleum products. While Tinubu fights excessive charges, Ahmed assures Nigerians of 30 days fuel sufficiency and continuous importation.

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